In Journeying into Wealth, Save More, Spend Less, Invest Always

in #hive-1752542 months ago (edited)

Traditionally, we were made to understanding that the rich sect are those who had more to save after spending however, experience has shown that wealth creation does not respond to just making savings. Today, the traditional financial institutions are making a huge profit from customers who "save" duns with them. In fact, over a reasonable time, instead of receiving a tangible interest for your amount saved in the bank, you are charged for maintenance charges. As I write this post, Nigerian banks are planning to charge customers at deposit point. It thus show that journeying to wealth demands more than savings.


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I would simply say that the journey to wealth starts when one consciously invests always, saves a proportion of his profits and spends a lesser proportion.

Spend Less, Invest "ALWAYS"

Economists say that human wants are insatiable, thus, the emergence of the concept of opportunity costs which allows one to meet one need at the expense of the other based on their priority. Anyone journeying into wealth must never e given into reckless spending. There must be a conscious effort to limiting and moderating expenditure.


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However, while limiting expenditure, wealth is still not guaranteed until there is an investment consciousness. Investment should not be an afterthought, rather, it should be deliberate and always at the fore of savings. Don't save to invest, rather invest to save. Investment should be a part of our daily, weekly, monthly and yearly budgets. This therefore calls for the adoption of a healthy investment strategy.

It is always safer to invest in bits and add up progressively than lumping. Investing in bits helps to spread the risk over time and caters for time/season dependent wrecks.

Time is Crucial in Investing

Investment respond to the laws of times and seasons. Failure to understand times and seasons would result in missing out from investment opportunities. By this, I do not mean that there are times for investment and other times not for investment, No!


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Every time is a time for investment. Understanding the times and seasons is understanding which product, service, what volume, location are best fit. At some times, one may have to put in one unit of investment and at another, it could be 10, and subsequently, 5. In any case, investment should be a continuous engagement.


I would be glad to share thoughts with you on the best strategies to saving and investing while reducing spending. Let's maximize the comments section of this blog post.
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here are those big financial mistakes Mostly people do

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Took that from facebook shared by ny teacher :)

Awesome fact you shared above. I was a victim for the first. I knew almost nothing about investment at 20.

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Hello @uyobong
These points you mention are important.
Saving is necessary, spending less is something that should not be ignored in order to have a little more, and to invest in something always implies also studying, these are things that cannot be done without thinking about the risks.
That's why what you say about investing in parts is logical.

Thank you Jose. We must learn the art of discipline in investment each time we earn.

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Hello friend, you always share good financial advice, investment is still the spearhead for profit.

I like the phrase "don't save to invent, invest to save"

See you later, be well !

Thanks very much for highlighting that point. Reading again from your comment makes more sense to me.

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believe that there is a perfect combination in your financial advice, certainly with saving we do not guarantee the way to economic wealth because in fact we have to invest, I also believe that we have to know in which actions we should invest all that saving sacrifice, because it is useless to have saved so much if in the end we invest in some business that because we do not know how to manage it we end up being ruined.

Greetings and thanks for sharing this good post.

Going for knowledge before sinking in funds is wisdom and everyone should prioritize wisdom.

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Hello friend @uyobong

Very good publication, I believe that the option of investing our money will always be the best, because it is useless to have it saved, so it does not produce anything. Of course, it is important to know in what we will invest it, not all the options are always good, that's why we must educate ourselves before taking any decision.

You added a great advice there. Thank you.

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